Cold Latin America

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There is no doubt that the phrase" When the United States catches a cold, Latin America sneezes." is a valid statement. Not just Latin America but almost the rest of the world sneezes but in the last Great Recession Latin America, especially Brazil recovered pretty fast.

The Great Depression had a devastating effect on Latin America, so much that in the late 1930s and early 1940s, the governments realized that because of global slowdowns they will have to rely on their own capacity.

Something similar happened in the early 1980s when rising interest rates in the U.S. pushed the region into its worst debt crisis and a “lost decade,” in which countries like Chile saw 14 per cent negative growth in 1982 and unemployment rates of 30 to 35 …show more content…
However, Brazil was one of the first emerging markets to begin a recovery so 2010. GDP growth reached 7.5%, the highest growth rate in the past 25 years. Unemployment was at historic lows and Brazil's traditionally high level of income inequality has declined for each of the last 14 years. During the past decade, the country has maintained macroeconomic policies that control inflation and promote economic growth. Inflation was 6.3% in April 2014. …show more content…
The Brazilian economy is characterized by moderately free markets and an inward-oriented economy, however, Brazil's economy growth has decelerated since 2013 and had almost no liquid growth throughout 2014. Growth slowed during last year due to reduced demand for Brazilian exports in Europe and Asia and modest consumer demand from Brazil’s large middle class.

The United States is the world's largest national economy, representing 22% of nominal global GDP and 17% of global GDP (PPP). The United States' GDP was estimated to be $17.914 trillion as of Q2 2015. The U.S. dollar is the currency most used in international transactions and is the world's foremost reserve currency and several countries use it as their official currency The United States has a mixed economy and has maintained a stable overall GDP growth rate, a moderate unemployment rate, and high levels of research and capital investment. Its seven largest trading partners are Canada, China, Mexico, Japan, Germany, South Korea, and the United
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